Joe,
Pretty cool!
The kit that is coming out is unique in that the sensor and receiver used to create the beam work up to a few hundred yards (I know, no tracks that wide right?) but also all the electronics are only in one side of the unit... the point being you can take it to any track (even a road course), and provided you can have a stationery, non-plugged-in, line of sight (up to a few hundred yards) to the other side of the unit, you can time your laps accurately.
So you could hit the road course, put the one side of the equipment (little box) on the wall or grass on a hill or under one of the stands on the opposite side of the course, and sit in the pits with your laptop and the other half, and time your laps.
I believe the cost is going to be similar - but it's not gonna be done until later this year.
Tom,
Good to hear from you! I will definitely let you know - this is a company I've been doing some work with and I know they're still making adjustments but it sounds pretty neat.